But saying that raises the question: If the number of fans or followers you have doesn’t tell us whether you’ve succeeded as a company, then what does it tell you? And if your CEO shouldn’t be worried about the number of wall posts you’ve generated, then who should be paying attention to this number?
Since last summer, I’ve been using a structured model to help my clients focus on delivering the right social media marketing data to various stakeholders inside their organization. Social media programs throw off so much data that the key to measuring and managing your programs well is focusing each stakeholder on just the pieces of data that are relevant to helping them do their jobs. If part of your job is measuring the success of your social media marketing programs, then you need to start segmenting the stakeholder groups you’re providing that data to and tailoring the type of metrics, the volume of metrics, and the frequency of reporting you provide them.
I just got back from Lotusphere after waiting out the sixth blizzard of this "snowmaggedon" Boston winter. The venerable Notes developer and administrator conference received an injection of business relevance on Monday when Lotus GM Alistair Rennie announced IBM's Social Business strategy. The conference motto was "Get Social. Do Business." In a private conversation, Rennie called Monday "day one" for social business.
The importance of Rennie's announcement was reinforced by the IBM brand presence and by presentations from IBM senior vice president Mike Rhodin and IBM senior vice president of marketing and communications, Jon Iwata. I believe that for IBM, social business is a strategy on par with its e-business strategy in importance and transformational potential. This will be clearer to everybody once IBM's advertising and product engines get cranking.
As for us, well, we're an easy sell on the strategy's transformational potential because what IBM calls social business, we call Empowered, and we wrote a book about it. Here are some charts to help make the connections clear.
The first picture is a diagram that captures the technology dynamic of the empowered era and indicates the organizational response that will be required. In a nutshell, companies will need to respond to the demands and expectations of empowered customers by:
Empowering employees to respond to the needs of empowered customers. (This is what our book Empowered is about.)
Listening to the market conversation using social listening platforms. (That's the subject of our book, Groundswell.)